In case you’re wondering what is Galaxy Digital doing with the $BTC and why they dump at market > made a deal to buy 80K $BTC otc at 10% discount > received btc 2 weeks ago at $120K, dumped some for collateral and to test reaction > idiots buy the dip > price stuck 118K-120K for 2 weeks > load hedge shorts in this range for the entire stack > easy to fill $8b-$10b in this timespan > proceed to dump on idiots, fully hedged > closing shorts into idiots liquidations while continuing to dump hedged spot > idiots are surprised and criticize your execution while they donated to you a free 10% on a $10b bag of shit > you smile, knowing that idiots think you’re the idiot but now you have $1b